N.B.Taylor & Co., Inc. Realtors



Posted by N.B.Taylor & Co., Inc. Realtors on 12/10/2018

If you’re in the market to buy a home, you’re probably learning many new vocabulary words. Pre-approved and pre-qualified are some buzz words that you’ll need to know. There’s a big difference in the two and how each can help you in the home buying process, so you’ll want to educate yourself. With the proper preparation and knowledge, the home buying process will be much easier for you.  


Pre-Qualification


This is actually the initial step that you should take in the home buying process. Being pre-qualified allows your lender to get some key information from you. Make no mistake that getting pre-qualified is not the same thing as getting pre-approved.


The qualification process allows you to understand how much house you’ll be able to afford. Your lender will look at your income, assets, and general financial picture. There’s not a whole lot of information that your lender actually needs to get you pre-qualified. Many buyers make the mistake of interchanging the words qualified and approval. They think that once they have been pre-qualified, they have been approved for a certain amount as well. Since the pre-qualification process isn’t as in-depth, you could be “qualified” to buy a home that you actually can’t afford once you dig a bit deeper into your financial situation. 


Being Pre-Approved


Getting pre-approved requires a bit more work on your part. You’ll need to provide your lender with a host of information including income statements, bank account statements, assets, and more. Your lender will take a look at your credit history and credit score. All of these numbers will go into a formula and help your lender determine a safe amount of money that you’ll be able to borrow for a house. Things like your credit score and credit history will have an impact on the type of interest rate that you’ll get for the home. The better your credit score, the better the interest rate will be that you’re offered. Being pre-approved will also be a big help to you when you decide to put an offer in on a home since you’ll be seen as a buyer who is serious and dependable.  


Things To Think About


Although getting pre-qualified is fairly simple, it’s a good step to take to understand your finances and the home buying process. Don’t take the pre-qualification numbers as set in stone, just simply use them as a guide. 


Do some investigating on your own before you reach the pre-approval stage. Look at your income, debts, and expenses. See if there is anything that can be paid down before you take the leap to the next step. Check your credit report and be sure that there aren’t any errors on the report that need to be remedied. Finally, look at your credit score and see if there’s anything that you can do better such as make more consistent on-time payments or pay down debt for a more desirable debt-to-income ratio.





Posted by N.B.Taylor & Co., Inc. Realtors on 12/7/2018


17 Fontaine Street, Marlborough, MA 01752

East Marlborough

Single-Family

$410,000
Price

6
Rooms
3
Beds
3
Baths
Desirable east side location. Updated kitchen and baths. Walk to beach. Very close to Simpson park. Major commuting routes, highways, shopping and recreation are all within a few minutes drive.
Open House
Sunday
December 09 at 12:00 PM to 1:30 PM
Desirable east side location. Updated kitchen and baths. Walk to beach. Very close to Simpson park. Major commuting routes, highways, shopping and recreation are all within a few minutes drive.
Cannot make the Open Houses?
Location: 17 Fontaine Street, Marlborough, MA 01752    Get Directions

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Categories: Price Change  


Posted by N.B.Taylor & Co., Inc. Realtors on 12/7/2018


17 Fontaine Street, Marlborough, MA 01752

East Marlborough

Single-Family

$410,000
Price

6
Rooms
3
Beds
3
Baths
Desirable east side location. Updated kitchen and baths. Walk to beach. Very close to Simpson park. Major commuting routes, highways, shopping and recreation are all within a few minutes drive.
Open House
Sunday
December 09 at 12:00 PM to 1:30 PM
Desirable east side location. Updated kitchen and baths. Walk to beach. Very close to Simpson park. Major commuting routes, highways, shopping and recreation are all within a few minutes drive.
Cannot make the Open Houses?
Location: 17 Fontaine Street, Marlborough, MA 01752    Get Directions

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Categories: Open House  


Posted by N.B.Taylor & Co., Inc. Realtors on 12/5/2018


425 Main Street, Hudson, MA 01749

Condo

$218,000
Price

5
Rooms
2
Beds
2
Baths
Whispering Pines! The most secluded location in a much sought after condominium community. First time available since 1987. End unit in the very last building in the complex. Very private. Balcony over looks woods not the back of other units. Clean painted garage with custom built cabinets. All appliances included. New heat pump roughly 3 years old. New sliding door. Well maintained, about as original as it gets. Short walk to stores and bike trail.
Open House
No scheduled Open Houses






Tags: Real estate   Condo   01749   Hudson  
Categories: Price Change  


Posted by N.B.Taylor & Co., Inc. Realtors on 12/3/2018


36 Birchwood Ave, Sudbury, MA 01776

Rental

$3,500
Price

9
Rooms
3
Beds
4
Baths
Terrific custom built home in coveted Pine Lakes neighborhood featuring cabinet packed eat-in kitchen with granite counters, stainless steel appliances and pantry closet. Spacious dining room with tile floor and French door. Living room with cobblestone gas fireplace. Wide pine flooring. Front to back cathedral family room with pretty bead board wainscoting. Full bath on first floor with pedestal sink. Master suite complete with small sitting room with French doors, walk-in closet with direct access to full bath with deep soaking tub and separate shower stall with dual shower heads. Second bedroom with direct access to full bath. Teen suite or in-law/guest accommodations with full bath and cabinet area with sink and rear stairs to separate entrance. Loads of closet space, walk-out basement and attic storage. Pretty half acre lot with views of duck/skating pond.
Open House
No scheduled Open Houses

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Tags: Real estate   01776   Sudbury   Rental  
Categories: Price Change